PROJECT REPORT ON: A STUDY ON MARKETING STRATERGY OF ONE PLUS AND ITS EFFECTS ON CONSUMERS OF MUMBAI REGION SUBMITTED BY: DIVYA PUJARI T.Y. ACCOUNTING AND FINANCE (SEMESTER 6) SUBMITTED TO: PROJECT GUIDE: DR. NISHIKANT JHA ACADEMIC YEAR 2019-2020 1 | Page DECLARATION I DIVYA PUJARI FROM THAKUR COLLEGE OF SCIENCE AND COMMERCE STUDENT OF T.Y.BAF (ACCOUNTING AND FINANCE) SEM 6 HEREBY SUBMIT MY PROJECT ON “A STUDY ON MARKETING STRATEGIES OF ONE PLUS AND ITS EFFECTS ON CONSUMERS IN MUMBAI REGION” I ALSO DECLARE THAT THIS PROJECT WHICH IS PARTIAL FULLFILLMENT FOR THE DEGREE T.Y. BCOM (ACCOUNTING AND FINANCE) OFFERED BY UNIVERSITY OF MUMBAI IS THE RESULT OF MY OWN EFFORTS WITH THE HELP OF EXPERTS DIVYA PUJARI DATE: PLACE: 2 | Page CERTIFICATE THIS IS TO CERTIFY THE PROJECT ENTITLED IS SUCCESSFULLY DONE BY DIVYA PUJARI DURING THE THIRD YEAR SIXTH SEMESTER FROM THAKUR COLLEGE OF SCIENCE AND COMMERCE KANDIVALI (EAST) MUMBAI:400101 COORDINATOR PROJECT GUIDE PRINCIPAL INTERNAL EXAMINER EXTERNAL EXAMINER 3 | Page PROJECT REPORT ON: A STUDY ON MARKETING STRATEGIES OF ONE PLUS SIMILARITY INDEX FOUND: 11.4% Date:12 February 2020 Statistics: 2591 words plagiarized/ 22734 words in total Remarks: Low plagiarism report 4 | Page ACKNOWLEDGEMENT To list who all have helped me is difficult because they are so numerous and the depth is so enormous. I would like to acknowledge the following as being idealistic channels and fresh dimensions in the completion of this project. I take this opportunity to thank the University of Mumbai for giving me chance to do this project. I would like to thank my Principal, Dr. C.T.Chakroborty for providing the necessary facilities required for completion of this project. I take this opportunity to thank our Coordinator, Dr. Nishikant Jha for his moral support and guidance. I would also like to express my sincere gratitude towards my project guide, Dr. Nishikant Jha whose guidance and care made the project successful. I would like to thank my College Library, for having provided various reference books and magazines related to my project. Lastly, I would like to thank each and every person who directly or indirectly helped me in the completion of the project especially my Parents and Peers who supported. DIVYA PUJARI 5 | Page EXECUTIVE SUMMARY This project is about the Electronic Appliance maker, One Plus. In this project, I analyze the company and its strategies from a variety of perspectives. The company’s strategy, its competitors and its entry strategy into foreign markets is also analyzed. The focus throughout the project would be on understanding the company from various perspectives and suggested possible courses of action that the company might follow and the global market share of the company and that of its competitors in the various product categories that they operate in. One plus is an ideal company for analysis because of its unique and innovative approach to business. The business model of the company is indeed one of a kind in the consumer appliances segment and this project analyzes the company in detail using the frameworks described above. The project is divided into separate parts with the first two parts concerned with the introduction to the company and the next two parts concerned with the conclusion about the future outlook as well as data about the company. DIVYA PUJARI 6 | Page INDEX Sr. Chp. Topics Page No No No 1. 1 INTRODUCTION 1.1 Definition 1.2 Marketing Proportions 1.3 Developing a market strategy 1.4 Types of strategies 1.5 Strategic model 1.6 Real-life marketing 2. 2 OBJECTIVES TO STUDY 3. 3 REVIEW OF LITERATURE 4. 4 RESEARCH METHODOLOGY 4.1 Marketing research 4.2 Sources of data 5. 5 COMPANY PROFILE 5.1 The One plus philosophy 5.2 Mission of company 5.3Values 5.4 Vision 2020 5.5 Key products 5.6Competitors of One plus 6. 6 ABOUT ONE PLUS 6.1 One plus in India 6.2 One plus the future 6.3 Effective advertisement 6.4 SWOT analysis 6.5 Marketing strategy of One plus 6.6 After sales services 7 | Page 6.7 Future prospects 7. 7 AFTER SALES SERVICE AND FUTURE PROSPECTS 7.1 After sales service 7.2 Promotion 7.3 Advertising 7.4 Sales promotion 7.5 Sponsorship 7.6 Direct mail 7.7 Distribution channels 7.8 Pricing 8. 8 DATA ANALYSIS AND INTERPRETATION 9. 9 FINDINGS AND SUGGESTIONS 10. 10. CONCLUSION 11. 11. BIBLOGRAPHY 8 | Page CHAPTER 1 INTRODUCTION ➢ 1.1 Definition ➢ 1.2Marketing proportions ➢ 1.3 Developing Marketing Strategy ➢ 1.4 Types of strategies ➢ 1.5 Strategic Model ➢ 1.6 Real-Life Marketing 9 | Page INTRODUCTION ➢ 1.1 Definition Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. ➢ 1.2 Marketing Proportions CUMULATIVE REPRESENTING AMOUNT SPENT BY COMPANIES ON MARKETING AND OTHER EXPENSES Webstrategiesinc.com 10 | Page CUMULATIVE REPRESENTING PROPORTION OF REVENUE SPENT BY COMPANIES ON MARKETING AND OTHER EXPENSES Ideatovalue.com MARKET SPENDING IS 7.9% OF COMPANY REVENUE (CMO SURVEY) ➢ 1.3 Developing a marketing strategy Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. Plans and objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi-year plans, with a tactical plan detailing specific actions to be accomplished in the current year. Time horizons covered by the marketing plan vary by company, by industry, and by nation, however, time horizons are becoming shorter as the speed of change in the 11 | Page environment increases. Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned. Marketing strategy involves careful scanning of the internal and external environments. Internal environmental factors include the marketing mix, plus performance analysis and strategic constraints. External environmental factors include customer analysis, competitor analysis, target market analysis, as well as evaluation of any elements of the technological, economic, cultural or political/legal environment likely to impact success. A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement. Besides SWOT analysis, portfolio analyses such as the GE/McKinsey matrix or COPE analysis can be performed to determine the strategic focus. Once a thorough environmental scan is complete, a strategic plan can be constructed to identify business alternatives, establish challenging goals, determine the optimal marketing mix to attain these goals, and detail implementation. A final step in developing a marketing strategy is to create a plan to monitor progress and a set of contingencies if problems arise in the implementation of the plan. ➢ 1.4 Types of strategies Marketing strategies may differ depending on the unique situation of the individual business. However there are a number of ways of categorizing some generic strategies. A brief description of the most common categorizing schemes is presented below: • Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are four types of market dominance strategies: o Market Leader o Market Challenger o Market Follower o Market Nicher 12 | Page • Porter generic strategies - strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the market penetration while strategic strength refers to the firm’s sustainable competitive advantage. The generic strategy framework (porter 1984) comprises two alternatives each with two alternative scopes. These are Differentiation and low-cost leadership each with a dimension of Focus-broad or narrow. o Product differentiation (broad) o Cost leadership (broad) o Market segmentation (narrow) • Innovation strategies - this deals with the firm's rate of the new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types: o Pioneers o Close followers o Late followers • Growth strategies — in this scheme we ask the question, “How should the firm grow?” There are a number of different ways of answering that question, but the most common gives four answers: • Horizontal integration • Vertical integration • Diversification • Intensification A more detailed scheme uses the categories • Prospector • Analyzer • Defender • Reactor • Marketing warfare strategies - This scheme draws parallels between marketing strategies and military strategies. 13 | Page ➢ 1.5 Strategic models Marketing participants often employ strategic models and tools to analyze marketing decisions. When beginning a strategic analysis, the 3Cs can be employed to get a broad understanding of the strategic environment. An Ansoff Matrix is also often used to convey an organization's strategic positioning of their marketing mix. The 4Ps can then be utilized to form a marketing plan to pursue a defined strategy. There are many companies especially those in the Consumer Package Goods (CPG) market that adopt the theory of running their business centered on Consumer, Shopper & Retailer needs. Their Marketing departments spend quality time looking for "Growth Opportunities" in their categories by identifying relevant insights (both mindsets and behaviors) on their target Consumers, Shoppers and retail partners. These Growth Opportunities emerge from changes in market trends, segment dynamics changing and also internal brand or operational business challenges. The Marketing team can then prioritize these Growth Opportunities and begin to develop strategies to exploit the opportunities that could include new or adapted products, services as well as changes to the 7Ps. 1.6 Real-life marketing Real-life marketing primarily revolves around the application of a great deal of common- sense; dealing with a limited number of factors, in an environment of imperfect information and limited resources complicated by uncertainty and tight timescales.